Your selected home loans
Owner Occupier, Principal & Interest
Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required.
Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required.
Read our Mozo Review to learn more about the Sucasa Ultra Low Rate <95% LVR
Your selected home loans
Owner Occupier, Refinance Only, LVR <80%
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
Read our Mozo Review to learn more about the Unloan Unloan Variable
Your selected home loans
Obliterate, Owner Occupier, Principal & Interest, <50% LVR
Get a low variable rate depending on your deposit with Athena’s Straight Up Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.
Get a low variable rate depending on your deposit with Athena’s Straight Up Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.
Read our Mozo Review to learn more about the Athena Straight Up
Your selected home loans
Owner Occupier, Principal & Interest, LVR <60%
Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.
Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.
Read our Mozo Review to learn more about the ubank Neat Home Loan
Your selected home loans
Owner Occupier, Principal & Interest
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
Read our Mozo Review to learn more about the BCU Bank Fixed Rate Home Loan
Your selected home loans
Obliterate, Investor, Principal & Interest, <50% LVR
Investors get a low variable rate depending on your deposit with Athena’s Straight Up Investor Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.
Investors get a low variable rate depending on your deposit with Athena’s Straight Up Investor Variable Home Loan. AcceleRATES feature helps you to reduce your home loan even faster (T&Cs apply). Zero fees to pay. Free redraw facility. Handy mobile app to manage your home loan.
Read our Mozo Review to learn more about the Athena Straight Up
Your selected home loans
Owner Occupier, Principal & Interest
Enjoy a competitive variable interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply) Mozo Experts Choice award winner.
Enjoy a competitive variable interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply) Mozo Experts Choice award winner.
Read our Mozo Review to learn more about the Up Home Variable Rate
Your selected home loans
Package, Owner Occupier, LVR<60%, Principal & Interest
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Read our Mozo Review to learn more about the Macquarie Offset Home Loan
Your selected home loans
Owner Occupier, Principal & Interest, <60% LVR
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
Read our Mozo Review to learn more about the BCU Bank OMG Home Loan
Your selected home loans
Investment, Refinance Only
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
Read our Mozo Review to learn more about the Unloan Unloan Variable
Your selected home loans
Fixed, Owner Occupier, Principal & Interest, LVR<70%
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
Your selected home loans
Fixed, Owner Occupier, Principal & Interest, LVR <60%
Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
Read our Mozo Review to learn more about the ubank Flex Home Loan
Your selected home loans
Owner Occupier, Principal & Interest
Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.
Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.
Read our Mozo Review to learn more about the Up Home Fixed Rate
Your selected home loans
Owner Occupier, LVR 60-70%, Principal & Interest
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 30% Deposit required.
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 30% Deposit required.
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
Your selected home loans
Owner Occupier, Principal & Interest, <80% LVR
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
Read our Mozo Review to learn more about the ANZ Fixed Rate
Your selected home loans
Owner Occupier, Principal & Interest, LVR 70-80%
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
Read our Mozo Review to learn more about the HSBC Discounted Home Value Loan
Your selected home loans
Owner Occupier, Principal & Interest, LVR 70-80%
Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process.
Read our Mozo Review to learn more about the ubank Flex Home Loan
Your selected home loans
Home loans come in many shapes and sizes, start comparing here based on your needs.
Search the Mozo Database
Browse all 463 home loans in Mozo's comparison database.
Our experts track home loan interest rates, product changes and help you stay informed of industry trends. read more
Small rate differences can amount to huge savings so it pays to compare.
Home loans & rates expert
Property prices have levelled into March, yet interest rates are still decreasing. This is fantastic news for buyers who’ve found it somewhat difficult to enter the housing market in the last two years, though to get a genuine deal, it’ll still take some careful planning and crafty comparing.
All signs also point to another rate hold for the Reserve Bank of Australia’s late March decision–it would take a hefty surprise to upset the course now.
Currently, the Mozo database average interest rate for variable home loans is 6.85% p.a. (OO, P&I, LVR < 80%). As always, comparison is key to finding the right home loan for you.
Lowest variable home loan rates in March 2024
At the time of writing, these are some of the cheapest variable interest rate offers from lenders in the Mozo database.
Rates are for a $400,000 loan (OO, P&I, LVR < 80%).
Every buyer is different, so no single home loan is best for everyone. Instead, choosing the right home loan is about matching your property aims and budget.
In general, the best home loan will:
Once you choose the right home loan, all you have to do is check the eligibility criteria, prepare your finances, and apply.
Home loans help millions of Australians get on the property ladder. Comparing mortages can help you save costs.
The type of home loan you choose will depend on your budget and plans. The two main types of home loans are:
Owner-occupied and investment home loans also vary by features and repayment types (principal & interest vs. interest-only). Buyers should choose a home loan that serves their goals.
Home loan features impact your long and short-term costs. Comparing home loan features lets you see which could fit your needs and budget.
An interest rate is a lending fee charged on your mortgage repayments.
The three main types of home loan interest rates are:
Each interest rate type has pros and cons to compare.
A home loan deposit is a downpayment you give the lender to use as security.
The deposit also establishes your loan-to-value ratio (LVR) and home equity.
Usually, large deposits give you lower interest rates. A standard deposit size is 20% of the property's purchase price.
Many home loans come with features that help save you money, too, such as:
Expert tip: Features like offset accounts and free extra repayments are more common with variable home loans.
Here at Mozo, we believe comparison makes your money count for more. We work hard to ensure you have the most up-to-date product information and home loan insights at your fingertips. Read more about our fact-checking process here.
We track the interest rates and home loan products of over 80+ mortgage lenders around Australia, including award-winning providers.
Mozo’s team of money experts crunch data, unpack complex finance topics, and strip away the jargon to help you make better financial choices.
Mozo’s comparison tools and services are free! You won’t pay any extra for using our site or taking out a product by clicking one of our provider links.
What are the best home loans? That’s tricky, but Mozo’s Experts Choice Awards are a great place to start.
Every year, Mozo’s expert judges compare hundreds of home loan offers to find the best value, quality, features, rates, fees, and more.
Only the top 10% of home loans get an award – and we look at hundreds of deals from 99 lenders.
Check out the winners at the 2024 Mozo Experts Choice Home Loan Awards page, or click below.
For more top deals, including editor picks, head to our best home loans hub.
A home loan is money borrowed from a bank or a lender to buy property. The debt is repaid in instalments, called mortgage repayments, with interest, over 20 to 30 years.
Mortgages are usually repaid over a 20 to 30-year period. This period of time is called the “loan term”. The standard loan term in Australia is 25 years, though some can go as long as 40 years.
Different types of home loans suit different types of buyers. First home buyers should look for first home loans with lower interest rates, while investors should use investment home loans. See our home loan types guide for more information.
A home loan is a financial product sold by a bank or lender. A mortgage is a home loan that’s in progress, meaning the borrower is already making repayments.
Home loan interest rates come in a few varieties. Fixed interest rates stay the same for a fixed term (usually 1-5 years), while variable interest rates can change at the lender’s discretion.
Each type of interest rate has pros and cons. Fixed rates give borrowers consistent repayments for a time, but variable home loans have greater features and flexibility. Compare fixed vs. variable home loans in our guide.
Five main home loan features are available in Australia: offset accounts, flexible repayments, extra repayments, redraw facilities, and split loan interest rates.
A comparison rate is an interest rate that includes any charges like lending fees. A comparison rate is a more accurate estimation of how much a home loan costs over time.
The best home loan for you will depend on your needs, preferences, and budget, so it’s vital to compare options to see what could work.
Many home loan lenders have won awards for their incredible offers. Check out Mozo’s top picks at our best home loans hub.
To apply for a home loan, assemble your paperwork, choose a property to buy, and compare lenders to find the right home loan for you.
When your documents are in order, fill out the home loan application form, pay any applicable fees, and submit your application.
The home loan paperwork you need to have includes:
How long it takes to apply for a home loan varies. Lodging the application itself could take anywhere from a few minutes to a few hours, depending on the application and lender.
It will also depend on how prepared you are. Your paperwork and information must be ready to apply, including at least three months of consistent income, spending, and savings. Preparation to apply could take weeks or months.
Crunch the numbers with our range of home loan calculators! See all calculators
Learn what you need to know about mortgages and money management in our helpful guides. See all
Get the latest on property market trends, interest rates, and lending news from Mozo's expert writers. See all
We compare home loans from the following well-known providers and many more... See more home loan providers
I have a small loan and am not offered the same as larger loan holders. I feel that any call to see if I can have a better deal is not regarded as the amount I owe (due to hard work) is not beneficial to the bank. I would like to refinance but don’t have the criteria needed to get a better deal. A place of do or don’t for me.
Read full reviewI have a small loan and am not offered the same as larger loan holders. I feel that any call to see if I can have a better deal is not regarded as the amount I owe (due to hard work) is not beneficial to the bank. I would like to refinance but don’t have the criteria needed to get a better deal. A place of do or don’t for me.
Increased interest rates higher than RBA rate increase amount which I thought was greedy as rates have been steadily increasing regularly.
Read full reviewIncreased interest rates higher than RBA rate increase amount which I thought was greedy as rates have been steadily increasing regularly.
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